The Big 12 announced its new media rights deals on Friday, six months after they reached an agreement on the broad terms of the deals.

ESPN and Fox Sports agreed to pay $2.6 billion over 13 years ($200 million per year) for a broad swath of media rights. Each Big 12 school will average around $20 million a year.

Pac-12 schools, which also partnered with ESPN and Fox, will average nearly $21 million per school. ESPN and Fox will share the conference's football rights, and ESPN will control its basketball rights, starting with the 2012-13 season.

Overall, at least 25 Big 12 football games will be available on a national TV platform (ABC, ESPN, Fox and FX). As part of the deal, ESPN will have rights to up to 23 football games. Fox will pick up the rights to at least six football games for its broadcast channel.

Big 12 schools can retain rights for one home football game and four men's basketball games. The deal runs through the 2024-25 season and includes a so-called "grant of rights" by each of the league's 10 schools. That allows the Big 12 to retain the media rights and accompanying revenue of any school that left the conference. Few would be expected to ever take such an expensive step.

"It gives us a very public and very business-oriented substantiation of the commitment that our 10 institutions have to one another privately," Big 12 commissioner Bob Bowlsby said. "I think many were concerned that we were going to come off the rails again at some point in time. I think this demonstrates that that's not going to happen, that we're going to be partners for a long, long time."

The Big 12’s revenue windfall comes on the heels of mass upheaval for the conference -- losing Texas A&M and Missouri to the SEC but adding Texas Christian from the Mountain West and West Virginia from the Big East to stay at 10 teams.

The new media revenue effectively could end any discussion of the Big 12 expanding back to 12 teams, not the news the University of Louisville wanted to hear. The Cardinals had been positioned as a strong candidate to join the Big 12 if it expanded.

For now, there are no plans for expansion for a league that just last fall was looking for replacements.

"We have no active agenda for expansion of the conference at this point in time," Bowlsby said. "That doesn't mean that we are oblivious to what might be other opportunities going forward, but I really believe that a period of calm would be advantageous to us and college athletics in general. ... We have a lot going for us and we ought to be slow to share that unless somebody brings extraordinary cache."

Without being specific, Bowlsby said there are provisions in the new deal and an ongoing dialogue for "active issues, changing circumstances" and potential changes should there ever be league expansion and changes such as the re-establishment of a Big 12 conference championship game in football if more teams are added.

It remains to be seen how the Big 12’s new contract will affect the ongoing negotiations between ESPN and two other league partners, the SEC and the ACC. Both conferences expanded to 14 schools, which makes them eligible to negotiate new terms.